In a landmark deal that has sent shockwaves through the sports world, the Los Angeles Lakers have been sold to entrepreneurs Josh Kushner and Bob Iger for an astonishing £12.5 billion. This transaction marks the second record-setting sale of an NBA franchise within a year, underscoring the escalating value of professional sports teams. The announcement comes at a time when the Lakers, long regarded as the most valuable franchise in the NBA, are navigating a transformative phase following the departure of superstar LeBron James.
Major Transaction Details
Sources familiar with the negotiations revealed that the staggering price tag eclipses any previous valuation for a sports team in the U.S. The specifics of the agreement were initially reported by ESPN, with confirmation from insiders who spoke on the condition of anonymity. Just last year, Mark Walter acquired a controlling interest in the Lakers for a valuation of £10 billion, marking a significant increase in the franchise’s worth. Iger and Kushner’s acquisition effectively accelerates their ambitions, as both had previously shown interest in obtaining an NBA expansion team in Las Vegas.
The sale is pending approval from the NBA’s board of governors, which is expected to convene next month in New York. This approval process could take several weeks, as the board reviews the terms of the sale and its implications for the league.
NBA Valuation Trends
The £12.5 billion transaction is not an isolated incident but rather part of a broader trend in which NBA franchise values have soared. Just three years ago, Michael Jordan sold his majority stake in the Charlotte Hornets for a valuation of around £3 billion, while the Boston Celtics were sold for just over £6 billion last year. Walter’s purchase of the Lakers in 2025 had already set a new record, and now Iger and Kushner have taken it to unprecedented heights.
The Lakers’ storied history, including 17 championships—the second-most in NBA history—combined with their status as a global brand, contributes significantly to their increasing valuation. The franchise consistently ranks among the top in merchandise sales, further solidifying its financial prowess.
The Impact of LeBron James’ Departure
This monumental sale comes on the heels of significant changes within the Lakers’ roster. LeBron James, the NBA’s all-time leading scorer, recently opted for free agency after an impactful eight-season tenure with the team. James ultimately signed with the Philadelphia 76ers, a move that has generated considerable buzz and speculation about the Lakers’ future direction.
The timing of the sale suggests that Iger and Kushner are poised to reshape the franchise in the wake of these developments. With their backgrounds in business and entertainment, they may bring innovative strategies to bolster the team’s competitive edge and global appeal.
Why it Matters
The sale of the Lakers for £12.5 billion not only sets a new benchmark for professional sports but also reflects the growing intersection of sports and high-stakes business. As franchise values continue to surge, the implications for team management, player contracts, and fan engagement are profound. This deal signifies a new era for the Lakers, one that could redefine the landscape of the NBA and inspire further investments in sports franchises worldwide, particularly in an age where the value of sports teams is increasingly recognised as a lucrative asset class.
